Year-End Insights: Industry leaders on AI, cybersecurity, and tech trends in 2024

In the ever evolving tech landscape, the transformative potential of AI extends beyond innovation to cybersecurity. As we enter 2024, industry leaders highlight that AI-powered cybersecurity plays a crucial role in threat detection and response, userization and AI revolutionizes user experiences and efficiency across applications, XaaS accelerates the implementation of digital services and Generative AI emerges as a pivotal component within enterprise software solutions. The collective insights from these tech titans provide a comprehensive view of the challenges and opportunities that lie ahead.

CrowdStrike

Elia Zaitsev, CTO, CrowdStrike
CISOs and CIOs turn to platforms to drive the best security and IT outcomes. With CISOs and CIOs being tasked to do more with less, in 2024 we will see an industry-wide shift as organizations turn to platforms, rather than legacy point solutions, that break down operational silos and reduce complexity and cost. The increased collaboration between CISOs and CIOs is driving the need for a platform that can be the solution to both of their problems – an AI-native platform that stops breaches and provides a cost-effective single point of control for CIOs.

AI Blind Spots Open the Door to New Corporate Risks. In 2024, CrowdStrike expects that threat actors will shift their attention to AI systems as the newest threat vector to target organizations, through vulnerabilities in sanctioned AI deployments and blind spots from employees’ unsanctioned use of AI tools.

After a year of explosive growth in AI use cases and adoption, security teams are still in the early stages of understanding the threat models around their AI deployments and tracking unsanctioned AI tools that have been introduced to their environments by employees. These blind spots and new technologies open the door to threat actors eager to infiltrate corporate networks or access sensitive data.

Critically, as employees use AI tools without oversight from their security team, companies will be forced to grapple with new data protection risks. Corporate data that is inputted into AI tools isn’t just at risk of threat actors targeting vulnerabilities in these tools to extract data, the data is also at risk of being leaked or shared with unauthorized parties as part of the system’s training protocol.

2024 will be the year when organizations will need to look internally to understand where AI has already been introduced into their organizations (through official and unofficial channels), assess their risk posture, and be strategic in creating guidelines to ensure secure and auditable usage that minimizes company risk and spend but maximizes value.

In addition, adversaries will see cloud-based AI resources as a lucrative opportunity. While many believe that AI will be a top trend in enterprise investment over the next few years, a recent study found that 47% of cybersecurity professionals admit to having minimal or no technical knowledge of AI. On top of that, AI presents new security challenges, as AI systems require access to large datasets often stored in the cloud. Securing this data and ensuring that AI models running in the cloud are not exploited for malicious purposes will be a growing concern, and in 2024, a comprehensive Cloud Native Application Protection Platform (CNAPP) will be more important than ever to fend off opportunistic adversaries.

EQUINIX INDIA

Manoj Paul, Managing Director, Equinix India

As we approach 2024, the global shift toward a digital-first future intensifies, with digital infrastructure emerging as a cornerstone for businesses to gain a competitive edge in the ever-expanding digital economy. This evolution brings forth several innovations and digital trends that promise to reshape the landscape of data centers and digital services, fostering a sustainable and interconnected environment.

The delicate balance between maximizing AI value and safeguarding sensitive data prompts the exploration of private AI—an environment exclusively tailored for organizational use. This innovative approach enables enterprises to harmonize AI strategy execution while retaining control over valuable data, marking a significant advancement in the digital realm. The growing enterprise adoption of cloud computing and the focus on edge computing and AI to process and analyze data closer to the source will also require increasingly flexible and hybrid approaches to digital infrastructure.

With the AI revolution, Everything as a Service (XaaS) accelerates the implementation of digital services. This on-demand model allows enterprises to seamlessly integrate new digital capabilities at software speed, scaling up or down as per business needs. Equinix champions XaaS through Platform Equinix®, empowering users to interconnect and adopt emerging technologies for a competitive edge.

Another trend revolutionizing data centers is liquid cooling, a response to the escalating adoption of AI and high-performance computing (HPC) applications. Liquid cooling surpasses air efficiency, enabling higher rack density and improved cooling performance. Equinix will expand support for advanced liquid cooling technologies –like direct-to-chip- to more than 100 of our International Business Exchange® (IBX®) data centers in more than 45 metros, including Mumbai and Chennai.

Cloud-Adjacent Storage emerges as a solution to evolving data storage challenges. The expansion of public cloud, the accelerated adoption of AI and the need to derive meaningful insights from data all put pressure on organizations to optimize the placement, control and security of their most valuable asset – data. At Equinix, we offer cloud-adjacent storage services with our partners, including NetApp, Pure Storage, and more, to enable customers to maintain control of their data, optimize costs, and provide high performance for their most demanding workloads.

Whatfix

Vara Kumar Namburu, Co-Founder & CTO, Whatfix

AI has been around for a while. The advent of Gen-AI brought it to the fore, presenting the potential to carve the next decade of innovation for the world. Gartner predicts that 80% of enterprises will have deployed generative AI-enabled applications by 2026. Today we are only scratching the surface by providing abilities to read documents, provide summaries etc. In its full bloom, gen-AI will enhance productivity in every part of the business. For all of this to become a reality, the Quality of generative AI has to get to production-grade, costs have to come down, and performance has to improve.

With the employee experience (EX) being added to the CIO’s charter alongside CX, the HR tech awaits a revolution. DX tools like digital adoption platforms (DAPs), with intuitive guidance in the flow of work, will drive the change in how employees engage with digital tools. The amalgamation of AI with the innovation concept of userization —making technology user-savvy, and unburdening the employees to become tech-savvy— is key in aligning with the broader shift of technology from cohorts to unique-user needs.

All the innovation will still need analytics to elevate the product and EX as well as CX by deciphering unique user behavior and feedback, providing strategic insights for informed decision-making. Embracing these tech shifts necessitates addressing the human side, emphasizing upskilling to navigate the digital age. Security-wise, 2024 demands vigilant measures against evolving cyber threats, with AI-driven detection and stringent data privacy practices at the forefront.

At Whatfix the union of userization and AI revolutionizes user experiences and efficiency across applications. Our human-in-the-middle approach ensures that AI complements and does not compete with humans offering businesses and IT leaders greater control. In 2024, AI and the workforce will continue to strengthen their dynamic partnership exemplifying the possibilities of responsible and inclusive technological integration, charting a future where humans and intelligent machines flourish side by side.

MediBuddy

Enbasekar D, Co-founder & CTO, MediBuddy

While 2023 saw the emergence of LLM in a big way, in 2024, we can expect Advanced AI, generative AI, and LLMs to become more prevalent in use across the tech industry. We can expect multiple startups emerging in the space to reimagine user experiences or enable other businesses to adopt LLMs or build custom, fine-tuned models or even localization and multilingual models.

Advanced AI and machine learning models are also poised to transform healthcare delivery through predictive, preventative, and personalised care applications. The adoption of such technologies will be gaining more acceptance among clinical experts and doctors as essential assistive tools in their practice. This, in combination with ABHA health ID and predictive monitoring and preventive diagnostics, will help the user track their health proactively.

ASCENDION

Mijitha Muralidharan, Associate Director, Engineering Services, Ascendion

 In 2024, there would be a strategic shift in the tech landscape, with Generative AI emerging as a pivotal component within enterprise software solutions, which will collaboratively shape digital products and services, marking a significant evolution in software development methodologies.

• The rise of the Industrial Metaverse represents a paradigm shift beyond conventional digital twinning. It is poised to transcend the confines of replicating machinery or manufacturing plants, evolving into a robust 3D platform. This platform will extend its utility across entire organizations, value chains, and product life cycles, serving as a comprehensive digital reflection of an organization within its operational context.
• Intelligent Automation is set to redefine the automation landscape in 2024. By amalgamating task and rules-based automation of RPA with cutting-edge AI technologies such as machine learning, natural language processing (NLP), and computer vision, it enables the seamless automation of intricate, decision-based business processes. This trend will facilitate holistic automation solutions through user-friendly low-code or no-code applications.
• As we look ahead, Sustainable Technology will rightfully take center stage, with organizations increasingly investing in technologies that foster environmental, social, and governance (ESG) outcomes. This strategic emphasis reflects a commitment to responsible business practices and aligns with the evolving expectations of stakeholders.

Emerging technologies are set to transform business strategies, driving a new era of agility, efficiency, and innovation. Companies will streamline operations, leverage data for decision-making, and create personalized customer experiences. The integration of AI, metaverse platforms, intelligent automation, and sustainable tech will redefine business models, emphasizing adaptability and sustainability. This comprehensive approach enhances competitiveness in a dynamic global landscape, with a central focus on elevating consumer experiences through Generative AI, advanced data, and analytics, optimizing efficiency, minimizing errors, and enabling strategic leverage through refined tools such as predictive analytics and Large Language Models (LLMs).

Advanced algorithms and predictive analytics empower organizations to proactively anticipate and address threats, fortifying security protocols and enhancing defense posture against emerging risks. AI-powered cybersecurity is instrumental in Threat Detection and Response, providing a robust defense against AI threats. Machine learning algorithms analyze vast datasets in real time, identifying anomalies and security breaches. AI-driven threat detection systems excel in recognizing behavioral patterns often missed by human analysts. This proactive cybersecurity approach significantly reduces response times, mitigating the impact of AI-driven attacks. The transformative potential extends to enhancing enterprise posture through automated configuration hardening, addressing micro-segmentation challenges, refining least privilege access, improving reporting, and more.

Atlassian

Rajeev Rajan, CTO, Atlassian

Collaboration has always been human-to-human, but now it’s humans plus AI. AI is already delivering huge personal productivity gains by summarizing meeting notes, tracking updates, and completing code. Once AI learns deeply about a company, its teams, and how it works, the possibilities are endless. This means employees can get up to speed in minutes or hours. Imagine the impact across enterprises and industries working on complex problems. Could AI help NASA identify the cause of anomalies that are hindering a mission, and would that mean the mission could be accomplished on a faster timetable? These are the kinds of possibilities we’re excited about, as time saved by AI provides human teams more freedom and flexibility to come up with great ideas faster.

Indium Software

Priya Venkataraman, Senior Vice President, Human Resources, Indium Software.

“As the head of HR in a burgeoning organisation, it is great to re-emphasize on our acknowledgement of how our people have closely contributed to the sustainable growth and development of the organization. Reflecting on 2023, it is noteworthy how we successfully faced challenges and seized opportunities, emerging stronger as a united team. Our Learning and Development strategy aligned with our business and sales objectives has been one of the hallmarks of our pursuit to excellence to yield impactful returns. In 2024, as we enter the silver jubilee, our primary focus will be on upskilling, providing targeted training for our teams to meet customer specific requirements and implementing lateral job rotation for our top talent.

With our stellar client list and a great team supported by accomplished leadership, we are focussed on fostering leadership and cultivating a high-performance culture, integrating Diversity, Equity, and Inclusion (DEI) into the DNA of our organization. Through Continuous learning, which is one of our core values, we reaffirm that recognizing and valuing our people remains pivotal in creating an engaged, happy, and productive work environment.”

Lendingkart

 Manish Bhatia, President – Technology, Analytics, New Capabilities at Lendingkart

2023 was hands down the year of LLM models, offering context and memory capabilities, and Generative AI that facilitated the creation of captivating responses. This collective power sparked global imagination, with ChatGPT serving as the conduit to experience its raw potential.

Looking ahead, various Artificial Intelligence models will continue to be at the forefront of technology trends in 2024.

To make things interesting, people will start demanding actionable outcomes from Generative AI Models, moving beyond mere suggestions. Various Interactive AI models, orchestrating tasks involving both software and human resources, are set to emerge. Regenerative AI will also take center stage, surpassing imitation by focusing on enhancing existing designs or systems through feedback loops and iterative processes.

To effectively operate these advanced models, there will be a heightened need for extreme computing, propelling Data Centers and cloud hosting to further innovate. Quantum computing and expansive storage solutions will become essential, with Quantum Computing holding the potential to revolutionize computation and tackle complex problems beyond the capacity of classical computers. This capability will be crucial for processing the vast amounts of data generated by AI models.

Blockchain and Decentralized Finance (DeFi) will continue to expand beyond cryptocurrencies. Their applications in supply chain, healthcare, and finance are broadening, with DeFi platforms gaining traction as an alternative to traditional banking, particularly in scenarios involving multiple parties and transparent execution of smart contracts. The advent of Web3 is expected to gain solid ground in the coming year.

Furthermore, the Metaverse, along with Augmented Reality (AR) and Virtual Reality (VR), is evolving rapidly, finding applications in diverse fields such as shopping, social commerce, gaming, education, healthcare, and industry. As hardware becomes more affordable and sophisticated, these technologies are likely to move into the mainstream.

All-in-all, looking ahead to 2024, people’s expectations from AI are evolving. From blockchain to the Metaverse, the journey into the realm of innovation continues, propelling us towards a horizon where technology seamlessly integrates into our daily lives, unlocking endless possibilities.

NEC Corporation India

Aalok Kumar, Corporate Officer & Sr. VP – Head of the Global Smart City Business, NEC Corporation and President & CEO, NEC Corporation India

“India’s digital transformation journey, catalyzed by initiatives like Digital India, has propelled us toward a digitally empowered society, fostering widespread tech adoption and nurturing a burgeoning knowledge economy. As we navigate this path, hyper-automation and AI-driven decision-making will continue to revolutionize processes, while digital ecosystems and platforms reshape industries. The focus on data privacy, edge computing, and sustainable transformation will chart our critical course ahead, defining not just technological progress but also the profound socio-economic impact.

NEC’s seven-decade presence in India stands as a testament to our commitment to help build digital infrastructure. Through our meaningful endeavors and cutting-edge technology, we’ve impacted the lives of millions. Moving forward, NEC remains steadfast in our dedication to partnering with Indian businesses and government. Together, we aim to leverage technology’s power, fostering inclusivity, prosperity, and sustainability for every Indian.”

Wipro Limited

Kiran Minnasandram, Chief Technology Officer – FullStride Cloud, Wipro Limited.

• “Over the coming year we can expect significant developments across sectors, fueled by technology. Edge Computing will make a comeback, powered by ultra-low latency, to revolutionize real-time data processing, especially in verticals such as Autonomous Vehicles and Smart Cities. Enterprises will embrace multi and hybrid computing models to ensure flexibility, avert vendor lock-in, and optimize performance and costs.’Interactive AI’ will emerge as a significant contributor for enhanced user experiences and will be utilized in numerous use cases such as customer services or education. In addition, sustainability will take center stage in cloud computing, with major providers placing emphasis on green data centers and efficient cooling, which is now a critical factor in business decisions for an eco-friendly approach.”

• “In 2024, regulatory requirements will elevate resilience standards, prompting a strategic reassessment of cloud adoption in regulated industries. So also, macro-economic factors will steer enterprises toward operational excellence, ROI-focused cost optimization, and elevated engineering solutions. Certain sectors such as Retail, Healthcare, Financial Services, and Entertainment and Media are poised to gain significant advantages and momentum through the strategic adoption of cloud computing.”
• “As cloud platforms enhance their array of AI-focused services, they’re essentially leveling the playing field, providing individuals without AI backgrounds the capacity to leverage these advanced tools. This growth has deepened the connections between AI adoption and the advancement of the cloud computing landscape. Cloud platforms are getting creative, expanding services from ready-to-use models to complete machine learning ecosystems, making AI more democratic. Additionally, smooth cloud support is on the horizon, facilitating data centralization and scalability for enhanced AI effectiveness. In the realm of digital transformation, standardized cloud paradigms are making operations more democratic, making it easier for businesses to step into the integrated AI landscape.”

Chaitanya Raju, Executive Director, HealthPlix Technologies

“In the last few years, there has been a massive leap in technology adoption in Healthcare. In 2024, the healthcare industry will see exponential growth in the digitization of health records and AI at the point of care. The digitization of healthcare records revolutionizes patient care, improving efficiency and decision-making process ultimately leading to better patient outcomes. We expect the government’s initiative on Ayushman Digital Bharat Mission to accelerate the digitization of health records and we are glad to be actively working with the government on this mission. AI in healthcare is already a US$ 20 Billion market. AI will be an ally to the doctors assisting them with the early detection of chronic disease risks, avoiding adverse drug reactions, improving preventive care via predictive analytics, etc.

Nimesh Verma, Cofounder and CTO, Upwards

2023 was the year of fintech metamorphosis in India. Embedded finance emerged as the protagonist, seamlessly weaving financial services into everyday experiences. From intuitive mobile interfaces to one-click financial decisions, user experience took center stage, making financial empowerment an intrinsic part of digital interactions. Simultaneously, cybersecurity vaulted to prominence as the guardian of trust, prompting a robust re-evaluation of data protection standards.

As we gaze into the fintech crystal ball for 2024, the stage is set for decentralized finance (DeFi) to claim its throne without uttering the ubiquitous ‘blockchain.’ Imagine a financial realm where inclusivity meets efficiency, and traditional barriers crumble. Artificial intelligence, our digital maestro, will serenade us with heightened personalization in financial services, redefining how Indians engage with their money. The synergy of AI and finance promises a symphony of smarter decision-making and risk management.

But it’s not all algorithms and code. In 2024, India’s fintech arena will wear a verdant hue as sustainability becomes the headliner. A green revolution is unfolding as fintech firms champion eco-friendly practices, paving the way for environmentally conscious financial solutions. As we navigate this intersection of finance, technology, and sustainability, ethical considerations will be our guiding star, ensuring that innovation doesn’t just transform, but elevates.

InfoVision

Responsive

Manish Bafna, SVP of Engineering

• Following ChatGPT’s surge in 2023, major large language model (LLM) developments and gen AI-enabled products helped support human-level performance. While earlier automation technologies focused on optimizing physical work activities, the current wave focused on decision making and collaboration across modalities from text, code, image to video.
• At Responsive, we were first to launch AI Assistant to simplify content creation and editing for RFPs, RFIs, due diligence and security questionnaires. In 2024, more impact can be seen by adopting GenAI potential further for software development and optimization. For business leaders understanding the use cases and assessing the need of their own industry is critical to create more value.

AJ Sunder, CPO & CIO, Responsive

• Rapidly Evolving AI User Expectations: We will witness a pivotal shift that is already starting to happen: end-user expectations around AI are quickly advancing, paralleling trends in consumer products. For the first time, these expectations in the business sector are outstripping the pace of innovation, even that of most forward-thinking companies. This evolution will drive innovative companies towards advanced AI, aimed at providing not just basic information retrieval but deep, actionable insights into customer behavior and needs.
• Increased Focus on Vendor Risk Assessments Amid Software Subscription Surge: The burgeoning growth in software subscriptions is transforming the business landscape, complicating risk management due to decentralized control of applications and data. Consequently, companies are intensifying their focus on vendor risk assessments. This presents a dual challenge: organizations struggling with managing a vast digital ecosystem and vendors burdened by compliance demands that continue to add to cost-of-doing-business. We foresee a growing reliance on technology to address these challenges, turning them into opportunities to showcase security and compliance commitments.
• Embracing Efficiency for Enhanced Productivity: In 2024, businesses will be under intense pressure to maximize productivity, necessitating a critical evaluation of their technology stacks. This will drive a shift towards intelligent, integrated solutions that streamline processes, eliminate redundant spending and technology, and elevate productivity with smarter, more insightful technology applications.

Qlik

Nick Magnuson, Head of AI, Qlik

In 2024, Generative AI takes the spotlight, evolving from a theoretical concept to a practical, business-oriented reality. This shift will particularly manifest in business-to-business (B2B) landscapes, where customized, domain-specific applications of AI take center stage. According to IDC FutureScape projections, by 2026, over 80% of generative AI use cases in enterprises will pivot towards tailored models, signifying a departure from standardized solutions to highly specialized solutions. This shift emphasizes the critical importance of data security and governance in developing and maintaining these customized AI models.

As organizations strive to address specific challenges, they’ll invest in domain-specific data, leading to the rise of “solution fabrics” that augment the capabilities of generic Generative AI. This transformation urges a reevaluation of traditional AI applications, highlighting their untapped potential for delivering significant organizational value. As the realization broadens, progressive businesses will embrace the broad spectrum of available AI technologies and continually invest in establishing a solid data foundation to support a robust portfolio of existing and future AI solutions.

The rise of Generative AI has also sparked significant buzz and a healthy dose of FOMO, elevating AI’s importance to C-level and even Board-level discussions. As Generative AI progresses into its practical phase, it’s crucial to remember: every facet of AI holds significance. While Generative AI gains traction, traditional AI – already delivering substantial organizational value – remains largely untapped by many. Organizations should explore the wide range of available AI solutions to optimize the speed and scope of their implementation, maximizing their benefits.

Mr. Srivatsan Santhanam, Vice President, Spend Engineering, SAP Labs India

“Businesses today are evolving at a rapid pace, enabling faster change and progress, causing an acceleration of the rate of change. Initially predicted as a time when organizations would grapple with budget constraints and resource scarcity, the unfolding reality of 2023 brought not only anticipated challenges but also exciting technological advancements, notably in Artificial Intelligence (AI).  The tapestry of 2023 was woven with the threads of Business AI. This transformative force propelled technology to the forefront of business operations, reshaping the dynamics of travel, expense, and invoice (TEI) management infused with next-gen payment solutions.

Organizations should take a realistic approach to planning for 2024, build in some flexibility to course correct, as needed, and lean into the benefits of emerging technologies. Embracing Business AI, automation, and AI-infused data analysis will help finance teams bring more strategy to the organizational table and find a greater sense of confidence amid uncertainty. Going forward, organizations also envision a paradigm shift in reimbursement processes. One foresees virtual payments streamlining TEI operations, instead of using a company credit card, employees will be able to use virtual payments for all business expenses, including travel.”

Mr Vikram Ahuja, Co-Founder ANSR, CEO Talent500

A key tech trend anticipated for 2024 revolves around AI’s transformative impact on the hiring landscape. AI is set to revolutionize recruiting practices, fundamentally altering how talent is discovered and engaged with. This technological advancement isn’t merely enhancing operational efficiency; it’s reshaping the very essence of talent acquisition.

AI’s prowess enables access to a diverse pool of candidates while actively mitigating biases in the recruitment process. Its predictive capabilities allow for more accurate assessments of potential success. Our survey data underscores this paradigm shift: AI tools have become indispensable in streamlining hiring processes, showcasing an average 30% reduction in time-to-hire and an impressive 40% increase in the quality of shortlisted candidates.

This trend heralds a future where AI is not just a supportive tool but a cornerstone in identifying, attracting, and retaining top-tier talent. Its role transcends mere efficiency gains; it’s a catalyst for creating more inclusive, unbiased, and data-driven hiring processes, ensuring better matches between employers and candidates in an increasingly competitive job market.

Mr. Sanjeev Chhabra, Managing Director & CEO, Beetel Teletech Ltd.

“2023 has been a momentous year for India’s technology landscape owing to the widespread digital transformation that has been carried out throughout this year. Bolstered by government initiatives and increased access, emerging technologies like AI, ML, blockchain, and cybersecurity became integral across industries, improving efficiencies. As a result, India’s digital transformation (DX) adoption landscape is expected to grow at a CAGR of 17 percent and reach $23.6 billion by 2025. Positioned as the world’s technology and innovation hub, some of the key technologies that are expected to see rapid adoption by Indian businesses in 2024 are AI/ML, cloud, blockchain, and cybersecurity.

While on one end AI will continue to penetrate industries, enhancing decision-making processes and optimizing operations, increased adoption of cloud technology along with the emergence of sophisticated cyber threats, there will be a heightened focus on cybersecurity leading to increased implementation of zero trust architecture. The evolution of cybersecurity strategies further underscores the industry’s commitment to responsible and resilient tech practices. As businesses embrace these technological disruptions, the stage is set for more efficient, strategic decision-making and a new chapter of growth. Beetel can play a crucial role in the adoption and implementation of these technologies, while also working to enhance and nurture skill sets. Positioned as a crucial link in the technology supply chain, Beetel aims to make innovative technologies accessible to a broader audience. “